The shares have risen about 18 percent this year as investors bet on Cisco’s transition to a software-focused company.

Cisco forecast fourth-quarter profit of 68 cents to 70 cents per share, while analysts were expecting 69 cents, according to Thomson Reuters I/B/E/S.

Net income rose to $2.69 billion, or 56 cents per share, in the third quarter ended April 28, from $2.52 billion, or 50 cents per share, a year earlier.

On an adjusted basis, the company earned 66 cents per share.

Total revenue rose 4.4 percent to $12.46 billion.

Analysts on average had expected a profit of 65 cents per share and revenue of $12.43 billion.

Cisco, like other legacy technology companies, has been shifting to high-growth areas such as cyber security and Internet of Things to cushion the declines in its traditional hardware businesses. (Reporting by Laharee Chatterjee in Bengaluru; Editing by Sriraj Kalluvila)